Latest Update - - Latest Update - Questions and 100% Verified Cor...

CEPA Certified Exit Planning Advisor Latest Update - Questions and 100% Verified Correct Answers Guaranteed A+

A _____ gift is one in which the person who received the gift has the unrestricted right to the immediate possession and use of it. - CORRECT ANSWER: Present Interest Gift

A "deliverable" includes which characteristics? - CORRECT ANSWER: a. Represents the conclusion of an assignment, task, or action

• Displays what the client is paying for

• Provides recommendations on the next set of actions the client should take

A business attractiveness score of 67% is considered: - CORRECT ANSWER: Above Average

A business owner only needs one advisor to complete their exit planning (T/F) -

CORRECT ANSWER: False

A descendant's unused federal estate tax exemption may be used by the surviving

spouse (T/F) - CORRECT ANSWER: True

A descendant's unused federal estate tax exemption may not be used by the surviving

spouse (T/F) - CORRECT ANSWER: False

A gift received by a person is not taxable income - CORRECT ANSWER: True

A key difference between lifestyle businesses and value creator businesses is that

value creator businesses usually generate better income (T/F) - CORRECT ANSWER:

True

A strategy which makes assets difficult or impossible to reach is called: - CORRECT

ANSWER: Asset protection

A successful exit strategy balances the "____ Legs of the Stool." - CORRECT

ANSWER: Three

All states have an estate tax (T/F) - CORRECT ANSWER: False

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As categorized by the Fisher College of Business at the Ohio State University, what are

the three types of companies in the marketplace? - CORRECT ANSWER: Investors,

Innovators, Efficiency Experts

Business is personal for most owners (T/F) - CORRECT ANSWER: True

Client cannot be a beneficiary of a intentionally defective grantor trust (IDGT) (T/F) (if T

- disadvantage/advantage) - CORRECT ANSWER: True / Disadvantage

Complete the following quote: "Luck is ___ meeting opportunity." - CORRECT

ANSWER: Preparation

Exit planning is a strategic business tool used to focus the company on maximizing

business value (T/F) - CORRECT ANSWER: True

First gate in the Value Acceleration Methodology? - CORRECT ANSWER: Discover

Four intangible capitals (The 4Cs) include _ _ _ _ _, Structural, Social, and Customer -

CORRECT ANSWER: Human

Four intangible capitals (The 4Cs) include Human, _ _ _ _ _ _ _ _ _ _, Social, and

Customer - CORRECT ANSWER: Structural

Four intangible capitals (The 4Cs) include Human, Structural, _ _ _ _ _ _, and Customer

- CORRECT ANSWER: Social

Four intangible capitals (The 4Cs) include Human, Structural, Social, and _ _ _ _ _ _ _ _

- CORRECT ANSWER: Customer

Four intangible capitals (The 4Cs) include Human, Structural, Social, and Customer

(True/False) - CORRECT ANSWER: True

Gifts to an IDGT do not trigger capital gains (T/F) - CORRECT ANSWER: True

IDGT continues for multiple generations without being subject to federal estate (T/F) -

CORRECT ANSWER: True

If the potential value for a business is 16 million, and it's currently valued at 9 million,

what is the value gap of the business? - CORRECT ANSWER: $7 Million

If you were to come into an engagement and a business valuation had already been completed, there would be no need to complete a personal, financial, business

attractiveness and readiness assessment (T/F) - CORRECT ANSWER: False

In what gate would you utilize a business valuation? - CORRECT ANSWER: Gate 1 -

Discover

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